GILD FY 2013 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

FY 2013 Earnings

Reported February 25, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$11.2B	—	$9.7B	—	15.5%
Op. Income	$4.5B	—	$4.0B	—	12.8%
Gross Margin	74.5%	—	74.5%	—	-0.1pp
Net Margin	27.5%	—	26.7%	—	0.7pp
EPS (Diluted)	$1.81	—	$1.64	—	10.4%
Free Cash Flow	$2.9B	—	$2.8B	—	4.2%

Revenue Flow

Item	Amount
REVENUE	$11.2B
Cost of Revenue	$2.9B
GROSS PROFIT	$8.3B
R&D Expenses	$2.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$3.8B
Cost & Expenses	$6.7B
OPERATING INCOME	$4.5B
Interest Income	$0
Interest Expense	$307M
Other Income/Expenses	-$316M
INCOME BEFORE TAX	$4.2B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$345M
EBIT	$4.5B
EBITDA	$4.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.2B
Cost of Revenue	$2.9B
GROSS PROFIT	$8.3B
R&D Expenses	$2.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$3.8B
Cost & Expenses	$6.7B
OPERATING INCOME	$4.5B
Interest Income	$0
Interest Expense	$307M
Other Income/Expenses	-$316M
INCOME BEFORE TAX	$4.2B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$345M
EBIT	$4.5B
EBITDA	$4.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.1B
Depreciation & Amortization	$345M
Stock-Based Compensation	$252M
Deferred Income Tax	$187M
Other Non-Cash Items	-$174M
Change in Working Capital	-$562M
OPERATING CASH FLOW	$3.1B
Capital Expenditure	-$190M
Acquisitions (Net)	-$379M
Purchases of Investments	-$257M
Sales/Maturities of Investments	$572M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$254M
Net Debt Issuance	-$1.7B
Common Stock Repurchased	-$582M
Common Dividends Paid	$0
Other Financing Activities	-$609M
NET CASH FROM FINANCING	-$2.5B
FREE CASH FLOW	$2.9B
Net Change in Cash	$309M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.1B
Short-Term Investments	$19M
Net Receivables	$2.2B
Inventory	$1.7B
Other Current Assets	$588M
TOTAL CURRENT ASSETS	$7.0B
PP&E (Net)	$1.2B
Goodwill	$1.2B
Intangible Assets	$11.9B
Long-Term Investments	$439M
Tax Assets	$190M
Other Non-Current Assets	$718M
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$22.6B
Account Payables	$1.3B
Short-Term Debt	$2.7B
Deferred Revenue	$111M
Other Current Liabilities	$243M
TOTAL CURRENT LIABILITIES	$6.4B
Long-Term Debt	$3.9B
Deferred Revenue NC	$22M
Deferred Tax Liabilities	$83M
Other Non-Current Liabilities	$383M
TOTAL NON-CURRENT LIABILITIES	$4.4B
TOTAL LIABILITIES	$10.8B
Common Stock	$2M
Additional Paid-In Capital	$5.4B
Retained Earnings	$6.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$124M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.4B
Minority Interest	$375M
TOTAL EQUITY	$11.7B
TOTAL LIABILITIES & EQUITY	$22.6B
Total Debt	$6.6B
Net Debt	$4.5B